2006-08-09 02:35:28 · 7 answers · asked by Au k 1 in Business & Finance ➔ Investing
The best mortgage calculator is Microsoft Excel. Try the function PMT and you will be amazed by the result.
Here is one detailled example:
Cell Content
C2 Years
C3 30
D2 Rate
D3 0.05
E2 Amount
E3 100000
F2 Monthly Payment
F3 PMT($D$3/12,$C$3*12,+$E$3)
The result of the payments is 536,82
2006-08-09 03:05:48 · answer #1 · answered by roy_s_jones 6 · 0⤊ 0⤋
Yes, there many mortgage calculators available on the Internet. Do a search for "Mortgage Calculator" then choose the one that meets your needs.
2006-08-09 02:41:31 · answer #2 · answered by ijcoffin 6 · 0⤊ 0⤋
They may use a different calculation method....and they can... Financial institutions over here in the states use Prime Rate... and LIBOR. As long as they disclose what method they use, they can use any formula they want. We have "truth in lending" laws over here, and in the find print they must disclose EXACTLY how they do their calculations. Its not "bamboozling". You are simply doing what others should be doing with all financial matters... PAYING ATTENTION........
2016-03-27 05:07:25 · answer #3 · answered by Megan 4 · 0⤊ 0⤋
In Excel use ...
=pmt(rate,periods,amount)
For a 5% loan of $1,000 paid monthly for 4 years:
=pmt(.05/12, 48, 1000)
2006-08-09 03:14:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
this relationship holds:
V = P/i - P/(i*(1+i)^N)
where:
P is the monthly payment
i = R/12
R is the annualized rate
N is the number of payments to be made
V is the value borrowed.
2006-08-09 05:54:44 · answer #5 · answered by Ranto 7 · 1⤊ 0⤋
its called an amortization schedule. search online for one. you plug in the price, interest rate, and term - it spits out monthly payment and all the other details.
2006-08-09 02:42:08 · answer #6 · answered by hiddenhotty 4 · 0⤊ 0⤋
Try this link. http://www.amerisave.com/?source=569
www.idearibbon.com
2006-08-09 02:44:33 · answer #7 · answered by Idea Ribbon 3 · 0⤊ 0⤋